IFM Investors Pty Ltd Has $21.81 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

IFM Investors Pty Ltd lifted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,132 shares of the company's stock after acquiring an additional 3,499 shares during the quarter. IFM Investors Pty Ltd's holdings in Elevance Health were worth $21,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Milestone Asset Management LLC raised its holdings in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc increased its stake in Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after buying an additional 27 shares during the last quarter. Barlow Wealth Partners Inc. increased its stake in Elevance Health by 1.3% in the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock valued at $961,000 after buying an additional 30 shares during the last quarter. Finally, McLean Asset Management Corp increased its stake in Elevance Health by 2.3% in the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock valued at $620,000 after buying an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELV. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the stock a "buy" rating in a report on Monday, June 9th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Barclays cut their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $498.87.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

ELV stock traded down $1.08 during trading on Monday, reaching $346.76. 2,255,777 shares of the company were exchanged, compared to its average volume of 1,612,991. The company has a 50-day moving average of $387.65 and a two-hundred day moving average of $398.64. The company has a market capitalization of $78.34 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $343.83 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.